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10.30..... To say Electronic payments are free and dont impact the world we live in, and that Cash costs us??  Does that mean that the whole VISA/MC/Amex/ Banking infrastructure runs for free (charity)... If you think cards payments are free then you dont understand the 4 party model at all. Merchants load card processing into their prices... Yes cash is more labour intensive - not necessarily cheaper or more expensive.

Dont go in there...... its a trap!!! 

I think you miss the point... Cash is legal tender, cash offers an alternative to individuals who do not want 100% of their spending habits to be tracked, cash provides a fallback in the event that hostile parties or technical failures impact digital payment processing and enable the underbanked to access services.  If cash is excluded from acceptance or is charged for at premium pricing - then the underbanked are disenfranchised completely, and we lose a valuable DR solution and alterative fallback option

So.....it appears the whole risk, compliance, and money laundering team leaders have left,  the CFO has left, and the Accountants say that the banks IT systems cant  count revenues...... Or.... if the systems can count, the Accountants cant verify the banks count... it seems that  $477M, out of the reported $1Bn of revenue claimed in 2022 may not be there?                                                                                                      I have to admit this is a very cursory review of the facts..  There may yet be 'triples all round at revolut' ?  or tears before bedtime?  Time will tell....and they are now big enough to pull through!  

I wonder how much good the teams at 1. Scammer payback, 2. Kitboga, 3. Nanobaiter, 4.Jim Browning, and 5. Wefightfraud.org    many of these are building strong and entertaining presence on Youtube.... this is one way that Social Media is able to help in the fight against fraud.   These channels should be publicised, they are self funding in many cases, using the social media platforms that can be part of the problem.  A relatively small amount of advertising spend or the placement of entertaining Infomercials in the spaces scammers work (Dating/Tech-Refund scams etc) will pay huge dividends... and can highlight real world fraud methodologies in a simple to understand format.... hopefully NOT triples all-round for Scammers this year!

An account that had £60k deposited out of the blue should have had a delay/cooling off period to lock the funds - especially if the account did not have a normal trading pattern attached to it.... Your, or My current accounts, business accounts etc will all have a logical pattern of behaviour... this IS a legitimate use for AI to be put to - policing non-typical bank account behaviour

There certainly needs to be a redistribution of wealth and most of these large fintechs are the source of much of the fraud.   The UK is lagging Europe in tackling Fraud - I attend these talking shops that are organised and listen to a lot of Jaw Jaw..... but there is no War War on Fraud....    The guys at www.Wefightfraud.org   they  could do with some serious funding when this fraud tax IS eventually levied.... Why dont we all write to our MP's on this??? 

Sounds like a very well run business that is able to admit its mistakes and capitalise on its successes!  Oddly i had never heard of them until now... i will research... Triples all round at Padddddle !  

Maybe I missed something but in my 30 years in this industry as a priveledged white male, I have worked for many women. In the early 90's we had a Trans colleague working with us very happily at First Data. I have worked with colleagues from across the world, many of these remain firm friends to this day.  The fintech industry embraced India for outsourcing,  the card schemes worked in every country and banks used nationls in payments.... those nationals have migrated through the industry... Maybe British banking needs more inclusivity....I have been working in an inclusive industry for a very long time now!   Can more be done? yes - do we need to call it out? I am not so sure!

Slick approach.... hope uptake follows,,,,,  these need to be sticky in the minds of the businesses making the one-off payment and need to be easily understood by the recipients -  Good UX/CX will be vital.  The beneficiary needs to trust the message before entering their data.... I am sure the good folks at Lloyds have thought through all of this!   Good luck!   If it works it will be triples all round!!!!!